Transaction costs should be seen … as costs that arise primarily from imperfections in knowledge. …We may think of these dynamic transaction costs as the costs of bargaining with, coordinating with, informing, learning from, organizing, teaching, and persuading others: they are costs incurred for the search, organization and employment of the required capabilities when these are lacking. In light of this, it is not possible to separate capabilities from transactions.
Like this content? Why not share it?
There Are No Comments
Click to Add the First »
Click to Add the First »